Why I might boycott Sunoco

For the most part, the big oil companies have not been models of virtue. And now oil executive greed is taking a toll on the workforce here in Philadelphia.

Last week, Sunoco announced that it will cut 750 jobs, most of which are located in the Philly area.

But, you might say, times are tough and companies of all types are downsizing in order to remain competitive. Can't boycott them all!

This is true. But Sunoco's not having trouble paying the bills.

Sunoco said that these job cuts will save the company more than $300 million annually.

But what they're failing to point out in this context is that Sunoco's combined profits the past two years were more than $1.6 billion. When you're looking at that kind of money, $300 million is a drop in the bucket. But those laid-off workers' lost salaries could have a devastating impact on their personal lives.

Pennsylvania Governor Ed Rendell even stepped up and called on Sunoco's board of directors to rescind the layoffs.

Rendell called the layoffs "unconscionable", saying:

"This is no time for a company that's making huge profits to lay off its workers so it can stay competitive, because those workers have virtually no chance in this economy of getting rehired."

Of course, it's silly to think that oil execs might suddenly grow a heart.

And so Sunoco is sticking to its plan.

And, in doing so, it will be contributing unnecessarily to the continuing economic downturn.